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21 July, 18:06

Given the pay rate and hours worked, determine the gross earnings, Federal taxes (assuming 20% of gross earnings), state taxes (assuming 6% of gross earnings), social security deduction (assuming 6.45% of gross earnings), total deductions, and net pay.

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  1. 21 July, 18:18
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    Answer: Total deductions = 0.3245ab and Net pay = 0.6755ab

    Step-by-step explanation:

    Suppose, the pay rate = a dollar per hour

    And hours worked = b hours

    Gross earning = the pay rate x hours worked

    Gross earning = ab

    Deductions are:

    Federal taxes = 20% of gross earnings = 20/100 x ab = 0.2ab dollars

    State taxes = 6% of gross earning = 6/100 x ab = 0.06ab dollars

    Social security deduction = 6.45% of gross earning = 6.45/100 x ab = 0.0645ab

    So,

    The total deduction = federal taxes + state taxes + social security deduction

    The total deduction = 0.2ab + 0.06ab + 0.0645ab = 0.3245ab dollars

    And

    Net pay = gross earning - total deduction

    Net pay = ab - 0.3245ab = 0.6755ab dollars
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